BUZZ-Vertiv Holdings jumps on annual forecast lift

Reuters04-24

** Shares of data center equipment provider Vertiv Holdings

soar 15.5% to $91.46 premarket

** Shares set to hit a record high if the gain holds

** Co raises FY24 adj. EPS forecast to the range of $2.29-$2.35 from its previous range of $2.20-$2.26

** Now expects FY24 net sales in the range of $7.54-$7.69 bln, compared with its previous forecast of $7.52-$7.66 bln

** Q1 results also beat Wall Street estimates

** Strength in orders and acceleration of AI-driven demand boosted results; co sees AI starting to scale - CEO Giordano Albertazzi

** VRT logged record-high backlog of $6.30 bln in Q1

** Stock up 64.8% YTD until last close

(Reporting by Purvi Agarwal in Bengaluru)

((Purvi.Agarwal@thomsonreuters.com))

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